Palestinian shares weaken over Arafat's deteriorated health conditions

Palestinian shares decreased in weak dealings on Thursday and thereby negatively affected as a results of the deteriorated health conditions of Yasser Arafat.

The main indicator for Palestine banknote market decreased by 4.1% in dealings which were described as already weak, during which shares were traded at a total value of 171,634 Jordanian Dinars ( $ 240,000).

The Palestinian indicators weakened after news were confirmed of transporting Arafat from his headquarters in Ramullah to France for medical treatment.

One customer said that the volume of dealings usually ranges between two to three million Jordanian Dinars daily, noting that the decrease of 4% is not a collapse for the market.

The dealings covered only 6 of the companies registered in the Bourse totaling 26. The Palestinian telecommunication share ( Paltel) was on top of the decrease in the market and decreased by 4.9% after dealing with shares at a value of $ 65,000.

The share of Palestinian company for Development and Investment ( PADEC) decreased by 4.65% while Palestine electricity company share was decreased by 4.6%.